When I envisioned adding three musical products to my recording sessions and single act, I was surprised to know that the needs I had weren't available in the market. In business this is alert to an opportunity to fill a gap or a void that exists.
If the product research then shows that it might be a profitable project to invest in, design engineers are brought in to develop and test design prototypes to see what the costs of manufacturing would be.
If the design works, a marketing team will evaluate the product looking for potential units that would be sold, and also what the elasticity of the market place would allow the product to be sold for. If the difference is sufficient to warrant moving forward, then a new product announcement will be forth coming.
One of the three product gaps was fulfilled by another entertainer during my due diligence of the products I wanted to use. It not only fulfilled my need, but was a an excellently made product. That left me with two products to move forward on.
I have no desire to become a manufacturer of products and having to pay the patent fees. Nor to I want to deal with the management of employees. The structure of Spirit Wind Productions doesn't allow it. I prefer to sell my products to established manufacturers who are established and can assemilate new product manufacturing into their business structure.
At this time I'm almost at the conclusion of tweaking both products. I'm sure there will be more in the future!
Upon completion, I will communicate with possible manufacturers to purchase my technology for cash and royalties.